| | | | | Q2's Top 10 Stock Picks | | What trading opportunities do the next 3 months hold? Our latest quarterly stocks report unveils our Top 10 Stock Picks for Q2 as well as a review of the key Q1 stories & preview of the coming quarter's pivotal events, and analysis of the best, and worst, FTSE share price performances year to date. Losses can exceed deposits. Download Report | | |
| | London open: Stocks steady as investors eye fresh catalysts; Capita surges |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London stocks were flat in early trade on Monday as investors looked for fresh catalysts following an easing of geopolitical tensions. At 0830 BST, the FTSE 100 was steady at 7,367.00, while the pound was up 0.2% versus the euro at 1.1415 and 0.1% firmer against the dollar at 1.4008. Rebecca O'Keeffe, head of investment at Interactive Investor, said: "Trade tariffs, US sanctions and technology are all having a push and pull effect on equity markets. Despite some optimism that the US and China will reach a truce on trade tariffs, investors are not putting out the bunting yet, as discussions between the world’s two largest economies are likely to be protracted and the negotiation style of President Trump provocative. "But it is not just trade tariffs and sanctions with China that are the focus of attention. Some commodity markets have been thrown into turmoil over recent US sanctions on Russian oligarchs and their companies. While metal prices have come off their highs, they are still trading at elevated levels, with aluminium prices more than 20% higher since sanctions began earlier this month, which has started to prompt cries of anguish from those in the supply chain, including German auto-manufacturers." There are no major UK data releases due, but Markit's eurozone services and manufacturing PMIs are at 0900 BST, while the same data for the US is due at 1445 BST. In corporate news, Whitbread was the standout gainer following a Sunday Times report suggesting that chief executive Alison Brittain is open to the idea of spinning off Costa Coffee from Premier Inn hotels. Outsourcer Capita surged after it gave details of how it planned to spend proceeds of its £701m rights issue on a new strategy amid a "significant deterioration" in new business wins and a £513m loss before tax. BHP Billiton rose after saying that Brazil's federal court has allowed it to have more time to complete negotiations regarding the public civil claims related to the Samarco dam failure. Industrial pump manufacturer Rotork rallied after posting a 10.2% jump in first-quarter revenue, with order intake up 21% thanks to favourable market trends and the receipt of several significant orders. Morgan Advanced Materials nudged up after posting a 6.5% rise in sales for the first three months to March on an organic constant currency compared to the first quarter of last year. Elsewhere, Shire was in the black after saying late on Friday that it was considering a sweetened offer from Japan's Takeda Pharmaceutical. On the downside, FTSE 250 shipping services provider Clarkson tumbled after warning that both first-half and full-year profits are now expected to be "materially below" the previous year following a number of headwinds in the first quarter. Workspace lost ground after announcing the acquisition of two further Centro buildings in Camden for £76.5m in cash, while private healthcare operator NMC Health retreated after saying it has launched an offering of senior, unsecured, guaranteed convertible bonds due 2025. Great Portland Estates ticked lower after it sold the freehold of 78/92 Great Portland Street and 15/19 Riding House Street to M&G Real Estate and secured a "substantial" pre-let of its Hannover Square development. On the broker note front, consumer goods giant Reckitt Benckiser was hit by a downgrade to 'market perform' at Raymond James, while RSA Insurance nudged up as it was initiated at 'hold' by Jefferies. |
| | Daily cryptocurrency Tracker 23.4.18: Cryptos continue to climb | | The positive trend seen in crypto markets in recent days continued, as all top 10 cryptos registered gains over the past 24 hours. Bitcoin showed the least gains, trading nearly... Read More.. |
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| | US open: Stocks head south as Trump attacks OPEC | | Wall Street opened on a somewhat sombre note on Friday, with all major indices down as corporate earnings fell short of repairing the damage done by yet another Donald Trump tweet. At 1545 BST, Dow Jones Industrial Average and S&P 500 were down 0.39% and 0.41%, respectively, while the Nasdaq had lost 0.68%. After hitting more than three-year highs earlier in the week, crude futures turned lower on Friday after Donald Trump suggested that OPEC was keeping oil prices artificially high - something he said: "will not be accepted". Speaking shortly after the bell, SpreadEx's Connor Campbell said, "The Dow Jones wilted in the face of the dollar's comeback after the bell. The greenback pared its gains against sterling with a half a percent rise against the euro, a bounce that helped inform the Dow's own 70 point decline." "That drop takes the Dow under 24600 for the first time since Monday, with its early in the week momentum petering out as the weekend approached," he noted. On the corporate front, General Electric was up 4.40% after it topped estimates with its quarterly earnings. Honeywell picked up 0.94% in early trade and Schlumberger lost 1.44%, despite seeing profits surge 88% across the first quarter. Elsewhere, Pivotal Software shares spiked in its first moments of trading on the New York Stock Exchange, opening at $16.75 per share, and trading up as high as 10% before losing early gains. Semiconductor company Qualcomm shares tanked after saying it will lay off 4% of its workforce as it looks to cut costs by around $1bn. Meanwhile, Wells Fargo gained 2.25% following reports that US regulators are set to slap a $1bn fine on the bank for forcing customers into car insurance and charging mortgage borrowers unfair fees. There are no major US data releases due, but Chicago Fed President Charles Evans will give a speech on current economic conditions and monetary policy to the Graaskamp Center Spring Board Conference later in the day. |
| | Monday newspaper round-up: Customs union, cyber attacks, luxury brands | | Theresa May could face a cabinet revolt on a customs union as peers prepare to inflict more defeats on the government over the EU withdrawal bill in a key week for the future of the UK’s relations with Europe. Amid Brexiter threats of a leadership challenge, the former cabinet minister Nicky Morgan, who chairs the Treasury committee, said party rebels should be careful what they wished for. – Guardian The Bank of England is “dangerously ill-equipped” to avert the next recession and remains mired fighting the last downturn, according to a report calling for the introduction of radical new policy tools. According to the Institute for Public Policy Research (IPPR), the odds of a recession once every 10 to 15 years mean Threadneedle Street needs additional firepower for when the economy next begins to falter. - Guardian The UK has already suffered stealth cyber attacks on more than 80 manufacturing plants, with criminals deploying tactics that could put critical national infrastructure at risk. Britain’s spy agencies have warned the bosses of utilities, transport and health services that Russian hackers are invading unprotected networks ahead of a potentially serious attack. - Telegraph Top luxury brands including Christian Dior, Dolce & Gabbana and Chanel are among the least transparent businesses when it comes to labour conditions in their supply chains, according to research released five years after the Rana Plaza disaster, the sector’s deadliest industrial accident on record. Dior discloses virtually nothing about where its clothes are made, according to this year’s Fashion Transparency Index, while D&G, Chanel, Marc Jacobs, Versace and Giorgio Armani all scored less than 10pc of the total available points. - Telegraph China said that it welcomed plans by Steven Mnuchin, the US Treasury secretary, to visit Beijing to defuse tensions between the world’s two largest economies and stave off a full-blown trade war. China’s commerce ministry said yesterday that it had received a message about American interest in visiting Beijing for talks on trade and economic affairs. “The Chinese side welcomes this,” it said. - The Times The effectiveness of the government’s small business commissioner — appointed to tackle chronic problems of late payment to small suppliers — has been called into question after officials admitted that he is presently considering only two such cases. The commissioner must produce “concrete results sooner rather than later”, the Federation of Small Businesses warned. - The Times | | | | To advertise in the Euro Markets Bulletin please contact advertise@advfn.com |
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